Vietnamese textile group Vinatex is sending a delegation to Taiwan to offer investment chances in its new industrial zone, sources reported.

Vinatex Investment Joint Stock Company General Director Vuong Tran Lam said the delegation will meet with more than 50 enterprises from the Taiwan Association of Computational Mechanics, Taiwan Textile Federation and other manufacturers of agricultural products and consumer goods, to persuade them to invest in Bao Minh industrial zone in the northern province of Nam Dinh.

The 165.3-ha zone covering three communes of Lien Minh, Lien Bao and Kim Thai in Vu Bao district with a capitalisation of VND264 billion aims to target investors towards the production of garment and textile as well as high-tech and environmentally friendly products.

The delegation expects to sign three contracts valued at around US$2 to 3 million each with several Taiwanese counterparts.